Coinbase Snags Top Tech Execs From Facebook, Amazon

In a move that shows that the skyrocketing business of Bitcoin is big enough to attract top tech talent, Coinbase has hired Facebook's former director of security Ryan McGeehan and Amazon’s former director of business development Todd Edebohls.

The fast-rising San-Francisco-based global Bitcoin wallet and merchant service tapped the two elite internet executives to strengthen and broaden its security and business development initiatives.

"These hires represent Coinbase growth, momentum and commitment to security," a Coinbase spokesperson told Entrepreneur this afternoon. "And as an industry it shows Bitcoin is growing up, attracting top talent."

Coinbase has also attracted some serious venture capital cash from heavy hitter investment firms. The popular Y Combinator-backed startup recently raised $25 million in Series B funding led by Andreessen Horowitz in what TechCrunch described as “the largest funding to date for a company focused on Bitcoin digital currency.” The historic funding round brought the venture capital raised by Coinbase to $31 million total.

McGeehan announced his upcoming career transition to Coinbase on Facebook and Twitter, confirming that he will join the company in April.

Yup, I'm joining @coinbase in April. If you're working on BTC security anywhere, reach out so we can share ideas.

Edebohls, former high-ranking executive at Amazon and more recently CEO of the online career community InsideJobs, is apparently keeping mum about his move to Coinbase on his social network accounts. He did, however, allude to his new position on his LinkedIn profile, adding the title of “VP” at “(to be announced)” as his latest position, with a start date of March 2014.

He will serve as Coinbase’s new vice president of business development.

Coinbase, was founded less than two years ago in June 2012, has already passed the 1 million Bitcoin wallet download mark, which it reached in on Feb. 27. Blockchain is Coinbase’s biggest competitor.